News Corp. Sells Off Honk.com To TrueCar
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It’s no secret that News Corporation (NASDAQ:NWSA) wants to start consolidating some of their web properties and selling off ones that don’t have anything to do with their core competencies. News Corp. is spinning off IGN and wants to sell off MySpace. News Corporation has recently sold off Honk.com to TrueCar.
Honk.com is a website that makes personalized recommendations to car shoppers. TrueCar has data about how much dealers are selling cars for on average. News Corp. will keep a stake in the combined company. Honk.com was co-founded by TrueCar co-founder Tom Taira. The financial details about the acquisition are unknown.